KBRA Affirms Ratings for Heritage Commerce Corp
Rhea-AI Summary
Heritage Commerce Corp (NASDAQ: HTBK) announced that Kroll Bond Rating Agency (KBRA) has affirmed its credit ratings. The company received a BBB+ senior unsecured debt rating, BBB subordinated debt rating, and K2 short-term debt rating. Its subsidiary, Heritage Bank of Commerce, received A- deposit and senior unsecured debt ratings, BBB+ subordinated debt rating, and K2 short-term deposit and debt ratings.
KBRA maintained a stable outlook for both entities' long-term ratings. The agency highlighted Heritage's disciplined approach to liquidity and capital management, along with solid credit quality position due to prudent underwriting and monitoring practices.
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News Market Reaction
On the day this news was published, HTBK gained 0.42%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN JOSE, Calif., May 12, 2025 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company"), parent company of Heritage Bank of Commerce (the "Bank"), announced today that Kroll Bond Rating Agency, LLC ("KBRA") affirmed the Company’s senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2. KBRA also affirmed deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for the Bank. They graded the outlook of the long-term ratings for both the Company and the Bank as stable on May 9, 2025.
"I am pleased to see that KBRA's latest ratings report highlights our disciplined and conservative approach to liquidity and capital management, as it shielded the Company during the more uncertain credit and liquidity environment in recent years,” said Clay Jones, President and Chief Executive Officer. “They also recognized our solid credit quality position due to our prudent underwriting and robust monitoring.”
The complete KBRA press release on Heritage Commerce Corp is available on KBRA’s website, https://www.krollbondratings.com. The KBRA press release, credit ratings, and analysis constitute part of the information contained therein are, and must be construed solely as, statements of opinion of KBRA and not statements of fact or recommendations of KBRA or the Company to purchase, sell or hold any of the Company’s securities.
Heritage Commerce Corp, a bank holding company established in October 1997, is the parent company of Heritage Bank of Commerce, established in 1994 and headquartered in San Jose, CA with full-service branches in Danville, Fremont, Gilroy, Hollister, Livermore, Los Altos, Los Gatos, Morgan Hill, Oakland, Palo Alto, Pleasanton, Redwood City, San Francisco, San Jose, San Mateo, San Rafael, and Walnut Creek. Heritage Bank of Commerce is an SBA Preferred Lender. Bay View Funding, a subsidiary of Heritage Bank of Commerce, is based in San Jose, CA and provides business-essential working capital factoring financing to various industries throughout the United States. For more information, please visit www.heritagecommercecorp.com.
Member FDIC
For additional information, email:
InvestorRelations@herbank.com
FAQ
What ratings did KBRA assign to Heritage Commerce Corp (HTBK) in May 2025?
What are Heritage Bank of Commerce's current credit ratings from KBRA?
Why did KBRA maintain stable ratings for HTBK in 2025?
How many branches does Heritage Bank of Commerce operate in 2025?
